U.S. Enterprise Asset Management Market Reach USD 4.392 Billion by 2030|Top Players such as – ABB, CGI, IBM, IFS & Infor
Technological convergence involving IoT, AI, and analytics is a key driver behind the market growth.
PORTLAND, PORTLAND, OR, UNITED STATE, April 24, 2023 /EINPresswire.com/ — Allied Market Research published a new report, titled, ” The U.S. Enterprise Asset Management Market Reach USD 4.392 Billion by 2030 | Top Players such as – ABB, CGI, IBM, IFS & Infor.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The U.S. enterprise asset management market was valued at USD 1,604.68 million in 2020, and is projected to reach USD 4,391.99 million by 2030, growing at a CAGR of 11.5% from 2021 to 2030.
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Increasing demand to extend the life span of key enterprise assets with the help of advanced technologies is contributing to the growth of the EAM industry in the U.S. Moreover, EAM Solutions help business owners or companies with uptime, inventory management as well as strategic planning. In addition, increase in demand for SaaS-based EAM solutions is also driving the market growth.
The U.S. enterprise asset management market is segmented on the basis of component, deployment type, organization size and industry vertical. By component, it is segmented into solution and service. By deployment type, it is bifurcated into on-premise and cloud. Based on organization size, the market is bifurcated into large enterprise and small & medium enterprises. Based on industry vertical, it is segregated into Energy & Utilities, Transportation and Logistics, Government, IT and Telecommunications, Manufacturing, Healthcare, Education, and others.
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By Organization Size, the large enterprises segment dominated the growth in the U.S. Enterprise Asset Management Market size in 2020. This is due to large enterprises have hundreds of physical assets that need to be taken care of and maintained regularly. So, EAM solutions are rapidly adopted by large enterprises for maintaining assets. However, small and medium enterprises will register highest growth rate during forecasted period.
By deployment, the on-premise segment dominated the growth in the U.S. Enterprise Asset Management market in 2020, and is expected to maintain its dominance in the upcoming years. On-premise-based solutions are known for better maintenance of servers, and continuous system facilitates the implementation of EAM solutions.
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The U.S. enterprise asset management market was valued at $1,604.68 million in 2020, and is projected to reach $4,391.99 million by 2030, registering a CAGR of 11.5%. The current estimation of 2030 is projected to be higher than pre-COVID-19 estimates.
Some of the key U.S. Enterprise Asset Management industry players profiled in the report include ABB Group, CGI, International Business Machines Corporation (IBM), IFS (Industrial & Financial Systems), Infor, Inc., MRI Software, LLC, Oracle Corporation, Ramco Systems, SAP SE, and Schneider Electric. This study includes market trends, U.S. Enterprise Asset Management market analysis, and future estimations to determine the imminent investment pockets.
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Covid-19 Scenario:
● The COVID-19 outbreak has less impact on the growth of the U.S. enterprise asset management market, owing to government and private sectors in the U.S. working together for smooth operations of many sectors such as manufacturing, retail and energy & utilities.
● During COVID, manufacturing and utility industries were hampered due to non-maintenance of assets and were not able to operate efficiently; however, due to adoption of EAM solutions, the effective management of assets was possible and they were widely adopted.
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